SC: Insurer Not Liable Beyond Sum Assured Without Advance Premium Payment - (19 Aug 2026)
INSURANCE
Supreme Court held that an insurer is not liable for losses occurring after the insured’s turnover exceeded the sum insured under a Marine Cargo Annual Turnover Policy, where the enhanced premium was not paid in advance, as barred by Section 64VB of the Insurance Act, 1938.
Tags : MARINE CARGO ANNUAL TURNOVER POLICY; PREMIUM; INSURANCE ACT
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